{"id":1270,"date":"2017-09-21T15:21:02","date_gmt":"2017-09-21T15:21:02","guid":{"rendered":"https:\/\/www.genesisarg.com\/?p=1270"},"modified":"2017-09-21T15:26:39","modified_gmt":"2017-09-21T15:26:39","slug":"initiative-to-ramp-up-finance-for-climate-action","status":"publish","type":"post","link":"https:\/\/www.genesisarg.com\/en\/novedades\/initiative-to-ramp-up-finance-for-climate-action\/","title":{"rendered":"Initiative to Ramp Up Finance for Climate Action"},"content":{"rendered":"<p><b>NEW YORK, September 20, 2017 \u2013\u00a0<\/b>United Nations Secretary General Ant\u00f3nio Guterres and World Bank Group President Jim Yong Kim today announced plans to accelerate the flow of finance for climate action through a new platform dedicated to identifying and facilitating transformational investments in developing countries.<\/p>\n<p>Following meetings this week with world and business leaders, state and city representatives, and civil society, the two leaders pointed to the urgency for climate action and the need for a massive ramp-up of investment.<\/p>\n<p><i>\u201cCountries are successfully reducing emissions and building resilience to climate change, but getting to the level of action needed to reach the global goals set in Paris two years ago will require a huge leap in the flow of financing and investment for implementing the National Determined Contributions,\u201d said<\/i><b>Secretary General Guterres<\/b><i>.\u00a0\u201cThe disasters we are currently seeing \u2013 including storms, floods and drought \u2013 are also demonstrating just how urgent the need is especially for the Small Islands Nations.\u201d<\/i><\/p>\n<p><b>President Kim<\/b><i>\u00a0speaking during the Bloomberg Global Business Forum said: \u201cThere are vast opportunities in developing countries in areas like clean energy and climate-smart agriculture that will lay the groundwork for a more prosperous and sustainable future. Our challenge is to create the conditions for investment to flow, and to get all forms of finance working together for maximum impact.\u201d<\/i><\/p>\n<p>The new\u00a0<b><a href=\"http:\/\/www.worldbank.org\/en\/topic\/climatechange\/brief\/mobilizing-finance-for-climate-action-through-the-invest4climate-platform\" target=\"_blank\">Invest4Climate<\/a><\/b>\u00a0platform is designed to bring together national governments, financial institutions, private sector investors, philanthropies, and multilateral banks to support transformational climate action in line with the Paris Agreement. The platform will bring together investors with high-impact opportunities in developing countries such as large-scale development of battery storage, electric cars, and low emission air conditioning.\u00a0 It will also facilitate such investments through the development of risk mitigation instruments and, based on demand, will work with national governments to improve policy environments.<\/p>\n<p><i>\u201cCities are leading the way in confronting climate change, and they would be doing even more, even faster, if they had greater access to funding,\u201d said\u00a0<\/i><b>Michael R. Bloomberg<\/b><i>, UN Special Envoy for Cities and Climate Change. \u201cThis is a big challenge that we can start to address with practical steps, like helping cities improve their credit rating, measure their funding needs, and connect specific projects with lenders. The World Bank and UN are taking an important step forward by bringing people together who are in a position to help achieve those goals.&#8221;<\/i><\/p>\n<p><b><a href=\"http:\/\/www.worldbank.org\/en\/topic\/climatechange\/brief\/mobilizing-finance-for-climate-action-through-the-invest4climate-platform\" target=\"_blank\">Invest4Climate<\/a>\u00a0<\/b>will be supported by national finance ministers, climate thought leaders, chief executives of firms, foundations and financial institutions, as well as senior representatives from the UN and the World Bank Group. It will not have its own funding sources but will complement existing climate and development finance initiatives and institutions.<\/p>\n<p>The platform will be further developed in close collaboration with partners at the forthcoming World Bank\/IMF Annual Meetings and COP23. The first Invest4Climate initiatives are expected to be announced at the Climate Summit in Paris in December 2017.<\/p>","protected":false},"excerpt":{"rendered":"<p>Heads of UN and World Bank Announce the creation of Innovate4climate, a new platform to unite projects with investors<\/p>\n","protected":false},"author":1,"featured_media":737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[90,43,5,24,22,44,89,19,17,6,7],"_links":{"self":[{"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/posts\/1270"}],"collection":[{"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/comments?post=1270"}],"version-history":[{"count":0,"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/posts\/1270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/media\/737"}],"wp:attachment":[{"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/media?parent=1270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/categories?post=1270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.genesisarg.com\/en\/wp-json\/wp\/v2\/tags?post=1270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}